Demonetisation fails, Rs 7.3 crore seized

Hyderabad: Based on specific inputs, the Hyderabad police intercepted three vehicles on Wednesday morning and found Rs 7.51 crore in cash. It was one of the biggest hauls after the election code of conduct came into play in TS, and was made a day ahead of the second anniversary of the demonetisation of high value currency notes.

The money was allegedly meant to be distributed as a bribe to voters in the elections. Police has so far seized Rs 40 crore of unaccounted cash, confirming that one of the biggest sources of black money is political parties.

Two years down the road since the Rs 500 and Rs 1,000 notes were scrapped, has the NDA government’s biggest strike against stash failed in its objective given that such ill-gotten money still exists as seizures testify?